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I ~ UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. P.ymeat of Prinripoll and Infe.-. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note. prepayment and late charges as provided in the Note, and the principal of and interest on any Future Advances secured by this. Deed of Trust. 2. Faads for T_..... I............... Subject to applieahle law or to a written waiver by lender, Borrower shall pay to Lender on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein ~"Funds") equal to one~twelfth of the yearly taxes and assessments which may attain priority over this Deed of Trust, and ground rents on the Property, if any, plus one-twelfth of yearly premium installments for hazard insurance, plus one-twelfth of yearly premium installments for mortgage insurance. if any. .all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held in an instjtution the deposits or accounts of which are insured or guaranteed by a Federal or state agency (including Lender if Lender is such an institution). Lender shall apply Ihe Funds to pay said taxes. assessments. Insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing sai.d account of verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable Jaw permits Lender to make such a charge. Borrower .and Lender may agree in writing at the time of execution of this Deed of Trust that interest on the Funds shall be paid to Borrower. and unless slIch agreement is made or applicable law requires such interest to be paid, Lender shall not be reqUIred to pay Borrower :my interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of thc Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made, The Funds are pledged as additional security for the sums secured by this Deed of Trust. If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments? insurance premiums and ground rents. shall exceed the amount required to pay said taxes. assessments. insurance premiums and ground renHi as they fall due, such excess shall be. at Borrower's option. either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes. assessments. insurance premiums and ground rents as (hey fall due. Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust. lender shall promptly refund to Borrower any Funds held by l.ender, If under paragnph 18 hereof the Property is sold or the Property IS otherwise acquired by lender, lender shall apply. no later than immedIately prior to the sale of the Property or its acquisitIon by l.ender, any Funds held by Lender at the time of application as a credit against the sums secured by this Deed of Trust. 3, Application of Payments. Unless applicable law provides otherwISe, all payments received by lender under the Note and paragraphs I and 2 hereof shall be applied by lender first In payment of amounts payable to Lender by Borrower under paragraph 2 hereof. then to interest payable on the Note. then to the principal of the Note. and then to interest and principal on any Futu", Advances, 4. CbarKes: Liens. Borrower shall pay all (axes. assessments and other charges. fines and Impositions nuributable to the Property which may attain a priority over this Deed of Trust, and leasehold payments or ground rents. if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof, Borrower shall promptly furnish to Lender all nOllces of amounts due under this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly furnish (0 Lender receipts evillcm:ing such payments. Borrower shall promptly discharge any lien which has pnority over this Deed of Trust; provided, that Borrower shall not he required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable 10 lender, or shall in good faith cont,es( slIch lien by, or defend enforcement of slIch lien in. legal proceedings which operate to prevent the enforcement of the lien or [Clrfeiturc of the Property or any part thereof. s. Hazard Insu....f:e. Borrower shall keep the improvements now c),lsting or hcrcaflcr erected on the Property insured against loss by fire. hazards included within the term "extended coverage". and such orhcr hazards as ~.cndcr may rcqUlfC and in such amounts and for such periods as Lender may require; provided. that Lender shall nOl require that the amount of such coverage exceed that amount of coverage required 10 pay the sums secured hy rhis Dct..~ of TnTst. The insurance carrier providing the insurance shall be chosen by Horrower subject to approv.al by I.cnder: provided, that such approval shall not be unreasonably WIthheld. All premiums on insurance policies shall be paid in tbe manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due, directly to the insurance carrier. All insurance policies and renewals (hereof shall be in form acceptable to Lender and .shall indude a standard mortgage clause in favor of and in form acceptable to Lender. l.ender shalf have the fight (0 hold the policies and renewals thereof. and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In (he event of loss. Borrower shall give prompt notice to the insurance carner and Lender. Lemler may make proof of loss if not made promptly by Borrower, Unless Lender and Borrower otherwise agree in writing. Insurance proceeds shall be applied 10 reslOralion or repair of the Property damaged, provided such restoration or repair IS economKally feasible and the security of this Deeo of Trust is not thereby impaired. If such restoration Of repaif is not cconomicaH~' fea~Hble or II the security of Ihi"!. Deed of Trust would be impaired, tbe insurance proceeds shall be applied to the sums secured by this Deed of Trust, WIth the excess, if any. pai~ to Borrower. If the Property IS abandoned by Borrower, or if Borro\\cr fails to respond to Lender within 30 days from the date notice is mailed by Lender to Borrower that the insurance ~arrier offers to seUle a daim for insurance benefits. Lender is authorized to collect and apply the insurance pnxeeds at Lender's option eIther to restora(ion or repair of the Property or to Ihe sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree 11\ writing. .tny such applicatton of proceeds to principal shall not extend or postpone the due date of the monthly installmen" referred to in paragraphs I and 2 hereof or change the amount of such installments. If under paragraph IS hereot the Property" acquired by I.ender, all right, title and interest of Borrower in and to any insurance policies and in and to the pnlCeeds (hereof rt.'SuhlOg from uamage 10 the Pro~rty prior to (he ~al~ or acquisition shall pass to Lender to the extent of lhe sums ~ecureu by (his De\.-o of Trusl immediately prior to ~uch salc or acquisition. 6. PnservafioG and MalateDlUlC:e 01 Properly; Leaseholds; Condominiums; Planned Unit llevelopments, Borrower shan keep the Propeny in good repair and shall not comml( \\-aMe \~r p(,'rnlll impairmc-nt nr l.!clcrioralion of the Property and shall com pi)' with the provisions of any lease if this Deed of Trusl is on a leasehold. If this Deed of Trust i~ on a unit in a condominium or a planned unir development. Borruwer shall petforrn <lit 01 8orrower's obligations under the declar;,uion or covenants creating or governing the ~ondominium or planned unit development. the by-laws and regulations of the (.~~minium or planned unit development. and conshtuent _ documems: _ If a i..:ondominium or piann~~ unit development rider IS executed by Borrower and recorded together wTlh thIS Deed of 1 rust, the COVcnanls and agreemcnlS of slIch rider shall be incorporated into and shall amend and supplemenl the c,-Wenanb anu agrl."ements of this Deed of Tru~1 ,IS if the rider were a part bereof. 7. Protedioa of Leader's Security. H Borrower fails (0 pc'rtorm the covenants and agreem~nh c(lntaint~d in this ~ ~f Trust, or ~f ~ny action .or proceed!ng.is commenced which matcri~Hy affects Lendcr\ interest in the Property. Including. but not limIted to, emment domain, msotvenC}', (:od~ enfon.--ement. or arrangements Of procecding~ Involving ,I bankrupt. or dece<k.--nt, then Lender at Lender's option, upon notice to Borrower, may make such appearal1cc..... Jisbllr~c such sums and take such action as is necessary to protect Lender's Interest. including. but not limited to, dis.hur~elHellt 01 ~ble atto~y's fees. and entry upon ,the ProperlY to make rcp..urs. If Lender required mortgage lllSUr~il1";C a, it ~QndltJ()n ?f makmg t~ loan ~ured by thiS Deed of ~ru~t. Borrower 1'.haU pa~< the premiums f'cquircu 10 muintam ~lH.-h UlS-uraOCC In effect unttl such tune as the requuement tor such fIlsurancc tcnlllnal~ III at...cordancc WIth B(lrmwer\ ~lIld Lend<<:'s wri~ten agreement or applicable law. Borrower shall pay (he amount of all mortgl:tgc in~ur<lncC' prl'lTlillm~ III the ma_r prOVIded under pat1litaph 2 hereof. , Any a~oll disbursed by Lend.er punWl~t H: lhi.s paragraph 7, \-\Cuh IfHerest Ihereon, shall become addition..l tndeb&ednc$s l){ Bonowcr secured t:-y t~tS Deed or frusl. ljnles~ Borro~er ;&n\i Lender ~'lgrcc (0 other lams of p~'Yfnenl. ..Itch anmutlts mall be payable upon nohce 'torn lender co Iklrrowcr rC\juc,Mlng payment there\~f. ,and shall be.u Ifllert$t Irom lhe date of ~nement .. the rale payable f~om time to .',me (~n l)U{stanJing prim.:ipal under the Note unless paymen1 of inlcrc~1 at ~. rate wwkJ be, ,.untrary. to aPJ.'!hcBble law. to whK'h evenl SlKh amounh ,hall hear mtcre..t at the hlghc.l",r rate ~ under applk:able law. Nu(hmg containtd If\ thiS p4&ragraph 7 shaH rCtluirc Lender hl Incur any expense or lake any M:ttoft he<<_det', .. ~ Lender may make Uf ..:ausc '0 be tn~ rea.~.nulble CtH,ri~ IIp\-''tl and ln~t>C~ll,lW~ of the Property, phi\. IJnl that ~ shaU Jtve BotfO'WlU notti.--e PHQf to any such U'IlpcctfOO ~~"Ytng .re3.Mmaoh.~ cause theretol fcl.att'u hI l {'ndt"f ... ,m_ ID lhe Pn>aertv. 83- (J 01393. ..... ,',....